Nigeria has a long coastline on the Atlantic Ocean, packed with resources and potential. To take full advantage of this, they recently created a special Ministry of Marine and Blue Economy!
The blue economy refers to everything we can get from the ocean, like fishing, tourism, energy, and even special minerals. It’s a massive industry worldwide, creating jobs and trade worth trillions of dollars.
At a recent meeting with stakeholders, the Minister of Marine and Blue Economy, Adegboyega Oyetola, said the ministry is exploring fiscal and trade policies to promote greater participation of Nigerians in the shipping industry. He revealed that the government identified the maritime sector as a pivotal area of focus, and the ministry is committed to creating an enabling environment for businesses to thrive
By setting up this new ministry, Nigeria is showing they’re serious about grabbing a share of this ocean wealth. This could mean more jobs for Nigerians, new industries, and a big boost to the economy.
Source: The Sun